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MODCAM

Modcam – vision sensors with onboard analytics for retail customer analysis

Total Cost €

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EC-Contrib. €

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Partnership

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 MODCAM project word cloud

Explore the words cloud of the MODCAM project. It provides you a very rough idea of what is the project "MODCAM" about.

expertise    solution    provisional    vision    speed    costing    senior    server    customer    zones    flow    counts    stores    charging    conduct    remarkable    negotiations    sme    monthly    ikea    earns    commercial    track    modcam    bandwidth    employees    complete    efficient    full    statistical    revenue    class    pixels    demographic    capture    retail    data    becomes    retailers    points    camera    immense    batch    sensors    insights    hitting    store    cold    gather    device    network    2020    markets    holds    chains    powerful    2013    least    sales    roll    launched    amount    feasibility    proprietary    50    eleven    bi    compact    75m    paying    fee    combining    6816    manually    optimize    sensor    200    market       17m    hot    translates    promotion    companies    computer    remote    patents    mobile    annually    effectiveness    lower    first    advances    300    solutions    world    sek    pain    queue    analytics    prepare    visitors    26    1600    telecoms    swedish    patent    video    unlocking    operations    customers    distributed    ebit    retailer    generation    professionals    countries    barrier   

Project "MODCAM" data sheet

The following table provides information about the project.

Coordinator
MODCAM AB 

Organization address
address: BREDGATAN 4
city: MALMO
postcode: 21130
website: n.a.

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country Sweden [SE]
 Project website http://www.modcam.com
 Total cost 71˙429 €
 EC max contribution 50˙000 € (70%)
 Programme 1. H2020-EU.2.1.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies - Information and Communication Technologies (ICT))
2. H2020-EU.2.3.1. (Mainstreaming SME support, especially through a dedicated instrument)
 Code Call H2020-SMEINST-1-2016-2017
 Funding Scheme SME-1
 Starting year 2017
 Duration (year-month-day) from 2017-01-01   to  2017-06-30

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    MODCAM AB SE (MALMO) coordinator 50˙000.00

Map

 Project objective

Advances in camera and sensor technology are unlocking remarkable opportunities for in-store retail customer behaviour analysis, enabling retailers to optimize operations based on rich data insights. Using vision sensors, retailers can track customer flow to determine hot and cold zones, promotion effectiveness and queue speed, and gather demographic data. This is far more effective than methods used by chains such as IKEA, which still counts visitors manually bi-monthly, costing €1600. The first generation of retail analytics technology is now hitting pain points. Video holds an immense amount of data, and analytics are currently conducted on a remote server, meaning network bandwidth becomes a barrier. Modcam has developed a cost-efficient technology solution for retail analytics using powerful proprietary vision sensors that can conduct video analytics in the device. This means only statistical information is distributed over the network rather than pixels. Using Modcam, a retailer can set up a complete customer analytics system for at least 50% lower costs than current solutions. Modcam is a Swedish-based SME that launched in 2013 by 4 senior technical professionals combining world-class expertise in computer vision and mobile telecoms. It has obtained one patent and two provisional patents for its methods, and has already produced a commercial batch of its compact sensors. It has four paying customers, and is in advanced negotiations with eleven companies including IKEA and H&M, with potential full-scale roll-out in up to 6816 stores. Modcam earns revenue by charging a monthly fee of between 200 SEK and 300 SEK per device. It aims to capture 2% of the retail analytics market in 4 countries by 2020, which translates into 26,000 unit sales annually. This will result in revenue of 75M SEK, an EBIT of 17M SEK and 40 employees. This feasibility study will prepare Modcam to scale up across new European markets.

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The information about "MODCAM" are provided by the European Opendata Portal: CORDIS opendata.

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